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<Commodity>G Sachs Cuts 2027 Brent Oil Futures Forecast to USD80 on Avg.
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Goldman Sachs reduced its forecast for the average price of Brent crude in 2027 to USD80/ bbl, citing strong supply growth and continued weak demand. However, it warned that oil prices could experience radical volatility under different geopolitical scenarios. Goldman Sachs said production in the US, Brazil, Venezuela and the UAE continued to increase, while structural demand is also changing, particularly in China. It assumed that a demand decline of slightly more than 10% will persist as China accelerates its transition to alternative energy sources. G Sachs continued to expect Brent crude to average USD90/ bbl in 4Q26. The impact of a prolonged disruption in the Strait of Hormuz has so far been offset by a smaller-than-expected supply shortfall. The global supply gap in 2Q is expected to be relatively limited, estimated at 5-6 million bpd. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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